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Saturday, July 21, 2007 |
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Local currency hits fresh seven-year high |
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BSP warns rapid rise
of peso risks volatility |
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THE Bangko Sentral ng Pilipinas (BSP) warned that the peso’s rapid
appreciation risks financial volatility, as the local currency
closed the week at its strongest in seven years buoyed by continued
dollar inflows to the Philippine stock market.
At the Philippine Dealing System,
the local unit closed at 44.80 against the dollar on Friday from the
closing price of 45 the day before.
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Wine consumption
in RP steadily rising
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FILIPINOS are taking to the good
life, as wine consumption in the country has grown steadily over the
past decade, a top wine distributor said.
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Govt exceeds
nontax revenue target
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WHILE
tax collections fell short of target, the Arroyo administration
managed to generate higher nontax revenues in the first
semester, exceeding the target for the period as well as last
year’s performance.
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New retail IOU to
pay investors market rate
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SMALL Filipino savers wanting to
take a piece of the government’s planned retail Treasury bond (RTB)
sale could expect to earn interest rates approximating prevailing
market rates, according to the Bureau of Treasury.
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Producers, traders
liable for food scares—FAO
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THE Food and Agriculture
Organization (FAO) and World Health Organization (WHO) said Friday
that producers and traders should be liable for recent food scares,
adding these prove the weaknesses of food safety systems...
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Lucio Tan Holdings
buys controlling stake in flag carrier
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The board of PAL Holdings Inc.
has approved the acquisition of shares owned by the six holding
companies of Philippine Airlines, the company announced Friday.
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DBP to upgrade
fishing industry
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The Development Bank of the
Philippines pushes for liberalization of its financing facilities to
help lift the fishing industry in Visayas.
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EDC to set up
coco-biodiesel plant
to supply fuel needs of Dumaguete
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PHILIPPINE National Oil Co.-
Energy Development Corp. (PNOC-EDC) will set up a coco-biodiesel
plant in its Southern Negros Geothermal Production (SNGP) to supply
the alternative fuel needs of its vehicle fleet...
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Maynilad overhauls
Pandacan pipelines
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Maynilad Water Services, Inc. has
started to overhaul the entire pipeline network of Paco and Pandacan
towns in Manila in an effort to improve the areas’ water service
as well as minimize lost water revenues.
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7-11 ups spending
for stores
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THE local operator of the
7-Eleven convenience store chain plans to spend more than half a
billion pesos to put up hundreds of stores this year and next.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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OFWs: Heroes or
hostage to fortune?
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I received many beautiful
birthday gifts last month from my BFF (best friend forever),
Georgina Camacho, who has very snugly settled in Carson, California,
USA, in her own home with an exciting job as paralegal...
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